Lay off in Indian IT sector accelerates – TCS terminates thousands of employees
Nita Narain
Feb. 5, 2008

With the American economy in deep trouble, Indian IT sector is in trouble. The higher Rupee against dollar and virtually no additional demand has made Indian IT employees redundant.

A sharp rise in the value of rupee against dollar and the slowdown in the US economy have made a chilling effect is the Indian IT body shops like TCS, Wipro and Infosys who call themselves software companies.

Secretly TCS has shown the door to most of its software engineers. Accortding to TCS official version, employees with experience of two years and above across the company who were unable to meet the performance requirements of TCS are asked to look for other jobs commensurate with their abilities. In reality TCS and others do not have new orders from US. They plan to lay off tens of thousands of employees in the next six to nine months.

Lay off in Indian IT sector accelerates – TCS terminates thousands of employees
Nita Narain
A sharp rise in the value of rupee against dollar and the slowdown in the US economy have made a chilling effect is the Indian IT body shops like TCS, Wipro and Infosys who call themselves software companies.
READ MORE>>

India finally realizes what a blunder it committed by becoming a trading nation rather than a producing nation - India headed for a severe economic depression from US depression
Harish Baliga
These Yuppies on the 'High' Indian oligarchs even bought American and European companies. They will soon find they lost it all as the Western world is faced with economic meltdown and depression.
READ MORE>>

India worried about continuation of the ballooning trade surplus with US as the world’s largest economy heads into depression
Shankar Hotabi
As the American economy dips into depression due to faltering real estate prices, subprime meltdown, excessive consumer debt and skyrocketing imported energy prices; Indian exports to India can suffer in an accelerated fashion.
READ MORE>>

The leveraged buy out man Romney – shame on his business experience, shame on his lies to hard working people of Michigan
Kirt Meham
The man who made billions buying out companies through leveraged debt and fire the employees of those companies to sell them for a premium now calls himself the ‘job creator of Michigan’.
READ MORE>>

India’s outsourcing hit hard as US economy falls apart - IndyMac Bancorp initiates a 27% reduction in outsourced and temporary vendors mainly in India
Kirt Meham
India’s outsourcing sector – the call centers, back office operations and the IT sector is getting hit badly by the free fall in US economy and cut backs by the American corporations.
READ MORE>>

McCain wrong on retraining displaced workers in incompetent community colleges – Senator please be informed before promising unrealistic stuffs to people
John Abelson
It is very easy to say ‘we will convert every manufacturing technician into software technician.’ Senator McCain it just does not work. You have lost Michigan because you said something that people of Michigan learnt over the last eight years.
READ MORE>>

India seeks pact with Malaysia to regulate employment and discrimination
babu Ghanta
Malaysian authorities are ducking Indian efforts to reach agreements on employment, stopping discrimination and improving environments for Indians to live and work in Malaysia.
READ MORE>>

MORE ARTICLES >>